Property Purchasing Procedures & Costs

If it’s your first time buying a property in Malta, you will undoubtedly be nervous, and you will more than likely find yourself asking a lot of questions. If you have decided to become a home owner, then there are long term commitments to consider, aside from merely the financial ones. Choosing a new home means deciding on space, location, amenities and ultimately, the size of your future family.

Being informed about the general procedures and costs of buying a property in Malta will enable you to make correct decisions and to feel in a position of control throughout the process. Below, we at Best Deal Properties have broken down these property buying procedures and costs into the below steps:

Get to Know Your Requirements and your Limitations

Property searching is a good place to start. Whether online or on premises, a search of a wide selection of properties around Malta will give you a better indication of what you can afford and what you are looking for. Determine the type of properties that are available on the market; decide on preferred localities and whether you wish for a house, apartment or maisonette. Do you want to live in the city or the outskirts? What amenities do you need?

Aside from the functional aspects of your property search, you also need to set aside clear budgets and make sure that you have a handle on your finances. Determine your current expenses and don’t forget to factor in some unexpected extras. Are you in a secure job? If you require a bank loan, are you eligible to be accepted? Determine your price range, and included any possible renovations, maintenance or furnishing costs. You will also need to create a Home Insurance Policy and Life Insurance Policy if you do not already have one. Don’t be afraid to shop around for the best loan repayment rates and interest rates.

Find your Dream Home

This is the fun yet frightening phase. You can start your property search online by browsing through our list of Properties for Sale, to get an idea of what is available on the market. We highly recommend setting a meeting with our Sales Agent so that we can help you realise your desires and to find a property that fits your budget and ticks all of your boxes. Once you have decided on purchasing your property, we will assist you in starting the purchasing process. At this stage, a date and time must be set for the preparing of the Promise of Sale, known in Malta as the ‘Konvenju’, which must be drafted with your notary.

Signing the Konvenju

Before signing the Konvenju you need to confirm several factors, from confirming the agreed price of the sale to determining what is included (such as finishings and fittings, any ground rent etc). You must also have a clear idea of how you are going to pay for the property, such as through a bank loan. Make sure you have clearly discussed and understood the terms of your contract, the deposit and the date for the signing of the final deed and final payments.

A breakdown of the property purchasing fees in Malta are:

  • A deposit of 10% of the total price of the property is to be paid upon the signing of the Konvenju between the buyer/s and seller/s.

  • Stamp duty equivalent to 5% of the total price or the property

  • Notary’s fees typically amounting between 2% and 2.5%

  • Health and Life Insurance costs


For more information on purchasing a property, we recommend reading our First Time Buyers Property Guide.